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RentData.org Logo Lafayette-West Lafayette Fair Market Rent FY 2023 Lafayette-West Lafayette, IN HUD Metro FMR Area Rental Data

Fair Market Rent Prices in Lafayette-West Lafayette, IN :
$794 $917 $1,071 $1,323 $1,661
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Moderate 40th Percentile Metro Area

Fair Market Rent prices in Lafayette-West Lafayette are high compared to the national average. This FMR area is more expensive than 84% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Lafayette-West Lafayette is $1,071 per month.

The previous year, rent for a two-bedroom home was $981 per month. This is a 9.17% increase year-over-year.

This FMR rate applies to Ambia, IN, Templeton, IN, Earl Park, IN, Pine Village, IN, Boswell, IN, Goodland, IN, Wolcott, IN, Oxford, IN, Otterbein, IN, Remington, IN and other cities within the region. The Metro Code or CBSA code for this region is METRO29200M29140.

Additionally, This Fair Market Rent (FMR) area Lafayette-West Lafayette, IN HUD Metro FMR Area spans one county or city in Indiana which is listed in the table below. Estimated population of Lafayette-West Lafayette, IN HUD Metro FMR Area FMR area is 8,695 people based on latest Census data.

Compared to the rest of Indiana, the Lafayette-West Lafayette FMR area is more expensive than 95% of the state.

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What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Lafayette-West Lafayette. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Lafayette-West Lafayette

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 845
1-BR 1-Bedroom $ 975
2-BR 2-Bedroom $ 1139
3-BR 3-Bedroom $ 1407
4-BR 4-Bedroom $ 1766
Change Year:
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

There is just one county (listed below) within the Lafayette-West Lafayette, IN HUD Metro FMR Area FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers three metro areas: Lafayette, In, Chicago and Indianapolis.

County / Region Est. Population
Lafayette-West Lafayette, IN Metro 8,695
Zip Codes in Lafayette-West Lafayette, IN HUD Metro FMR Area

There are 11 unique zip codes in this Fair Market Rent (FMR) area:

47917, 47921, 47942, 47944, 47948, 47970, 47971, 47975, 47977, 47986 and 47995

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What's Next?

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